why not help others whilst also helping yourselves
(instead of funding Trading academies and trainers in their expensive lifestyles)
red GBP is rocking bull all week
Green USD sits below the zero and selling all week
so cable is one of THE currencies to be buying all week so far (yep its that easy)
what else was worth trading all week ? .....look for another strong Currency and pick weaker ones to pair it with
(clue - the other Bull Currency starts with "J" )
Entries / Exits please ..........Neil ?
Jees you guys want blood for free !!!!
ok ive dumped a few standard indicators on the 1 hr chart here ...plus one of my specials i use personally
(nope no peeking allowed)
you have to decide how you will trade trending currencies
look for shallow pullbacks and attack retraces
look for moderate pullbacks and attack retraces
look for Deep pullbacks and attack retraces
your money and your choice ....i can assure you that different currency pairs will be offering different options to you ...so be careful .....
after some 20 years+ trading forex i'm pretty good at knowing what to look for based on the markets situation / patterns / correlations etc etc ......would be pretty sad if i didn't - right ?
as long as GBP stays above the zero line and USD stays below the Zero line i am happy to attack pull backs as deep as they come ....
see where the 7 RSI and even the 5,3,3 Stoch are falling below key levels ?.....all good hunting areas as long as your currencies are still holding to the weekly trends and zero line (as already mentioned)...
Then look for some basic price patterns for entry .....bull bar close or breach of prev high etc etc ....plenty to look at guys
Im not even going to talk about exits ...go online and google it and experiment ....we all have different preferences for that
Easy ? ............yep once you have a system
Profitable ? ........mainly yes ...nothing is perfect ...and only then if you follow your rules to the letter plus all the other things needed in Trading
if you look closely there are some cracking trades this week on Cable ....so hope you took them as this was an easy week so far ......and yes UJ was also a good pair ....and EJ was sweet as well .....
if you were chasing pairs on same sides of the Zero line this week on 1 hour TF's ....WHY ????